Insider Buying: Agilysys (NASDAQ:AGYS) Director Buys 160 Shares of Stock

Agilysys, Inc. (NASDAQ:AGYS) Director Melvin Keating purchased 160 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $68.38 per share, with a total value of $10,940.80. Following the completion of the acquisition, the director owned 35,167 shares of the company’s stock, valued at approximately $2,404,719.46. The trade was a 0.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Agilysys Stock Down 0.7%

Shares of AGYS traded down $0.48 during trading hours on Wednesday, reaching $67.54. 309,839 shares of the company traded hands, compared to its average volume of 358,281. The stock has a market capitalization of $1.90 billion, a PE ratio of 63.12 and a beta of 0.36. Agilysys, Inc. has a fifty-two week low of $63.71 and a fifty-two week high of $145.25. The stock has a fifty day simple moving average of $88.66 and a 200 day simple moving average of $107.08.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The company had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $79.07 million. During the same quarter in the prior year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Research analysts predict that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AGYS. Oppenheimer boosted their price objective on shares of Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. BTIG Research started coverage on shares of Agilysys in a research report on Tuesday, December 16th. They set a “neutral” rating on the stock. Needham & Company LLC lowered their target price on shares of Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. UBS Group reiterated a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Finally, Zacks Research raised Agilysys from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of Agilysys by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 461,482 shares of the software maker’s stock valued at $48,571,000 after buying an additional 58,691 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Agilysys by 2.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 644,199 shares of the software maker’s stock worth $67,802,000 after buying an additional 14,308 shares during the period. American Century Companies Inc. boosted its holdings in Agilysys by 38.7% in the second quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock valued at $71,955,000 after acquiring an additional 175,137 shares during the last quarter. Geode Capital Management LLC grew its position in Agilysys by 8.0% during the second quarter. Geode Capital Management LLC now owns 607,664 shares of the software maker’s stock valued at $69,670,000 after acquiring an additional 45,037 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its position in Agilysys by 13.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 205,857 shares of the software maker’s stock valued at $21,666,000 after acquiring an additional 23,791 shares during the period. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.